Minh-Ngoc Nguyen
Research Expert covering Vietnam
Tet: Vietnamese New Year - statistics & facts
As the festive season and New Year celebrations wind down in many Western countries, the biggest holiday is still on the horizon for several Asian nations, including Vietnam. Tet, or Lunar New Year, is the most significant celebration in Vietnamese culture. Falling between January and February each year, depending on the lunar calendar, January 29th of 2025 marked the first day of the year of the Wood Snake. Tet shares similarities with Christmas in its emphasis on family gatherings featuring home-cooked traditional meals, festive decorations, gift-giving, and a corresponding rise in consumption.
Despite this change, Tet-related fast-moving consumer goods (FMCG) spending still accounts for roughly one-fifth of annual FMCG expenditures. However, the share of Tet’s contribution to yearly FMCG revenue has shown a gradual decline in recent years. Meanwhile, rural areas have been driving consistent growth in consumer goods consumption during Tet, fueled by improved living standards and the expanding reach of modern retail and e-commerce in these regions.
Fashion and beauty items are among the top-selling categories on these platforms, reflecting the tradition of dressing up for the holiday. At the same time, food and beverage sales have seen significant growth as Vietnamese consumers increasingly turn to online channels for these essentials. Tet is also a time for expressing appreciation and affection, as evidenced by the dramatic rise in sales of gift sets on e-commerce platforms.
As e-commerce continues to evolve in Vietnam, competition among platforms is expected to intensify, potentially driving further innovations in delivery speed, festive promotions, and tailored shopping experiences, making online shopping an even more integral part of Tet celebrations.
Ahead of Tet: here comes the shopping frenzy
In the lead-up to Tet, families across Vietnam traditionally stock up on goods, ranging from everyday essentials to festive treats, as most businesses tend to close throughout the entire holiday, which often lasts a week or more. However, in recent years, many grocery stores and food and beverage establishments have started to remain open throughout Tet, or reopen after a short break, particularly in urban areas. This shift has reduced the need for pre-holiday stockpiling.Despite this change, Tet-related fast-moving consumer goods (FMCG) spending still accounts for roughly one-fifth of annual FMCG expenditures. However, the share of Tet’s contribution to yearly FMCG revenue has shown a gradual decline in recent years. Meanwhile, rural areas have been driving consistent growth in consumer goods consumption during Tet, fueled by improved living standards and the expanding reach of modern retail and e-commerce in these regions.
E-commerce: the new shopping destination for the traditional Tet holiday
With the rapid rise of e-commerce in Vietnam, many shoppers have embraced online platforms for their Tet-related purchases. Shopee, often referred to as the Amazon of Southeast Asia, is the leading e-commerce platform in the country. In the nine weeks leading up to Tet in 2024, Shopee reported approximately 35 trillion Vietnamese dong in revenue. TikTok Shop, the new and ambitious e-commerce player from the social media platform, has been closely following Shopee as the go-to destination for holiday shopping among Vietnamese consumers.Fashion and beauty items are among the top-selling categories on these platforms, reflecting the tradition of dressing up for the holiday. At the same time, food and beverage sales have seen significant growth as Vietnamese consumers increasingly turn to online channels for these essentials. Tet is also a time for expressing appreciation and affection, as evidenced by the dramatic rise in sales of gift sets on e-commerce platforms.
As e-commerce continues to evolve in Vietnam, competition among platforms is expected to intensify, potentially driving further innovations in delivery speed, festive promotions, and tailored shopping experiences, making online shopping an even more integral part of Tet celebrations.
